Listen to the above words of Presidential Candidate Biden, carefully, especially about the loss of jobs in America.
1. Does anybody remember $5.00 per gallon gas prices during the Obama/Biden administration? Click on and gasp!
a. Calif. gas prices spike at $5 per gallon
2. Does anybody remember the adverse effects that the Arab Oil Embargo had on America in 1973-74?
a. Does anybody remember the long gas lines during the embargo, and not all service stations having gasoline?
b. The OPEC oil embargo was a decision to stop exporting oil to the United States. On October 19, 1973, the 12 OPEC members agreed to the embargo. Over the next six months, oil prices quadrupled. Prices remained at higher levels even after the embargo ended in March 1974. A review of the history of oil prices reveals they’ve never been the same since. The chart below tracks both nominal and inflation-adjusted oil prices since 1946. During the OPEC oil embargo, inflation-adjusted oil prices went up from $25.97 per barrel (bbl) in 1973 to $46.35 per barrel (bbl) in 1974.
3. Does anybody remember the rationing, and odd-even days, for buying gasoline, and a nation’s speed limit of 55 MPH to conserve fuel?
a. In 1973 and again in 1979, drivers frequently faced around-the-block lines when they tried to fill up. Drivers would go to stations before dawn or late at night, hoping to avoid the lines. Odd-even rationing was introduced — meaning that if the last digit on your license plate was odd, you could get gas only on odd-numbered days.
b.Back in the ’70s, some gas stations took to posting flags — green if they had gas, yellow if rationing was in effect and red if they were out of gas. To cut energy consumption in the broader economy, daylight saving time was introduced year-round at the beginning of 1974, facing criticism from parents whose kids had to go to school before sunrise in the winter months.
4. How The Fracking Revolution Broke OPEC’s Hold On Oil Prices
a. The “fracking revolution” caused U.S. oil production to turn upward in 2009, and then rise over the next seven years at the fastest rate in U.S. history. While it is true that OPEC still produced 42.6% of the world’s oil in 2017, the majority of new oil production since 2008 has come from the U.S. Of the 10.3 million BPD (barrels per day) of new oil production since 2008, the U.S. supplied 6.2 million BPD (60%). The world’s two other major oil-producing countries, Saudi Arabia and Russia, saw their production increase by 1.7 million BPD and 1.2 million BPD respectively since 2008.
b. OPEC overall increased its production by 3.6 million BPD since 2008, primarily as a result of production growth in Saudi Arabia, Iraq, and Iran. But OPEC’s gains were limited by production declines in Venezuela, Libya, and Nigeria. There were also regional production declines in Europe, Asia, Africa, and South and Central America. Also notable is that Canada and Mexico are major oil producers (although Mexico’s production has been declining). Overall, North America supplied 20 million BPD of the world’s oil in 2017 (22%). This was ahead of every other region of the world except for the Middle East, which produced 31.6 million BPD, or 34.1% of the world’s total.
c. According to the BP Statistical Review, the U.S. now leads both Saudi Arabia and Russia in crude oil production. It is hard to overstate the consequences of the fracking revolution, because the U.S. oil production surge broke OPEC’s stranglehold on global oil prices. Every country in the world would likely have paid much higher oil prices over the past decade if the new oil boom in the U.S. hadn’t happened, further enriching OPEC and Russia in the process.
5. Consider the strength of the U.S. being the world’s leader in the exportation of all oil products.
a. As of 2014, the United States was the world’s third largest producer of crude oil, after Saudi Arabia and Russia, and second-largest exporter of refined products, after Russia. In November 2019, the United States became a net exporter of all oil products, including both refined petroleum products and crude oil.
6. Considering the upcoming elections.
a. It is good for the USA to be energy sufficient, especially in view of the past years when we were under the hard hand of OPEC oil pricing and distribution. To vote for Harris/Biden is to vote for higher gas prices, and for OPEC to once again dictate oil prices and availability of Americans, as well as for many lost jobs in the oil industry and, in collateral oil dependent businesses.
b. I have not heard of any Democrat saying that they want to protect our nation from the adverse affects of eliminating fracking. A vote for a Democrat, any Democrat, is a threat to our nation’s energy independence, and an invitation for us to return to the days when our nation’s security was highly dictated by the whims of OPEC.
c. It is a fact that not until the Trump/Pence administration took office that the U.S. has become energy self-sufficient. By the way, I grew up in a Democrat family. My father was a merchant seaman and a union member; he also walked picket lines. I have also been a union member.
Consider the above words of the proposed Harris/Biden administration leader, in relation to “no fracking.”